#XRP coin is hot in this week because of some recent developments in the legal case between Ripple and the #SEC . Here is a concise thread explaining why:
- The SEC sued Ripple in 2020 for selling XRP without registering it as a security, which could have serious implications for the future of XRP and other cryptocurrencies. $XRP
- On July 13, 2023, a judge in New York ruled that XRP is not necessarily a security on its face, and that the SEC has to prove that Ripple sold XRP as an investment contract. $BTC
- This ruling was a huge win for Ripple and XRP, as it gave hope to crypto investors that XRP and other altcoins may not be considered #securities after all.
- The price of XRP surged by 71% after the ruling, reaching about 80 cents per coin. Other cryptocurrencies also gained momentum, such as Polygon, Litecoin, Solana, and Cardano. $XLM
- Coinbase, which had de-listed XRP from its platform, announced that it would resume trading of XRP. Gemini also said it was exploring the listing of XRP for both spot and derivatives trading.
- #Ripple said that the ruling could bring U.S. banks back as clients, as they would be more willing to use XRP for cross-border transactions. Ripple also said that it was confident that it would prevail in the case and clear its name.
These are some of the reasons why XRP coin is hot in this week. Do you own any XRP or other cryptocurrencies? 😊